Gazprom

President Vladimir Putin said Russia scrapped a proposed $45 billion Black Sea pipeline to carry gas to Europe, the latest sign economic ties with the European Union are breaking down as the Ukraine crisis persists. Shelving the South Stream project ensures pipelines through Ukraine will remain vital supply links to …

Ukraine’s efforts to unblock deliveries of Russian gas as winter sets in were deadlocked on Thursday as Moscow’s negotiators were quoted demanding firmer commitments from the European Union to cover Kiev’s pre-payments for energy. EU-hosted talks were adjourned after running late into the night, Energy Minister Alexander Novak and the head …

The Gazprom Board of Directors approved the adjusted Investment Program, Budget (Financial Plan) and Cost Optimization (Reduction) Program for 2014. According to the adjusted Investment Program for 2014, the total amount of investments will make up RUB 1 trillion 026.15 billion, which is a RUB 220.146 billion increase as compared …

The Board of Directors addressed the information about the state and prospects for the relationships between Gazprom and Ukrainian business entities in the gas sector. It was noted that Naftogaz of Ukraine’s gas debt to Gazprom amounted to some USD 5.3 billion. Owning to persistent non-payments, Naftogaz of Ukraine was …

Today Gazprom issued its unaudited consolidated interim condensed financial information prepared in accordance with International Accounting Standard 34 “Interim Financial Reporting” (IAS 34) for the three months ended March 31, 2014 Net sales of gas increased by RUB 6,133 million, or 1%, to RUB 909,952 million in the three months …

M. N. Gagarin (LLC TyumenNIIgiprogaz) In the Russian Market, there are almost no widely available cheap technologies to collect and process associated petroleum gas, or APG. Similar technologies and projects can be found abroad, but these can be very expensive and would also need to be adjusted to Russian climatic …

Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee took part today in the naming ceremony for a liquefied natural gas (LNG) carrier in the city of Jinhae (South Korea). The vessel with a cargo capacity of 170.2 thousand cubic meters was named Pskov. Equipped with a specialist diesel-electric drive, Pskov is among the most efficient and eco-friendly LNG tankers …

Astana hosted today a working meeting between Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Uzakbai Karabalin, Minister of Oil and Gas of the Republic of Kazakhstan. The parties discussed further cooperation in the gas sector and, in particular, the extension of the long-term agreement till 2038 – on purchase and sale of gas produced from the Karachaganakskoye gas and …

The Ministry of Environment and Urban Planning of Turkey approved the Environmental Impact Assessment (EIA) Report and issued a positive opinion of the EIA results for South Stream’s offshore section in Turkey. The Report contains the assessment of potential environmental impacts caused by the gas pipeline construction, including the impact on the seabed geology, water quality and marine ecology. The …

Russian companies, including oil giant Rosneft, may face challenges refinancing $112 billion in debt due to mature over the next four years, a report by Moody’s Investors Service said. Moody’s said there was a very significant bank and bond debt maturity hurdle for Russian companies concentrated among Rosneft and state-controlled gas company Gazprom in 2015. Russian companies are facing tougher …